Facebook has confirmed that they are launching a "free, self-publishing tool with robust styling options to create individual websites and an email newsletter", complete with monetization tools. That is, they are launching a competitor to premium newsletter service Substack.
"In the coming months in the U.S., we'll introduce a new platform to empower independent writers, helping them reach new audiences and grow their businesses."
Since launching their paywall last year, Spain’s biggest newspaper EL PAÍS has gained more than 100,000 digital subscribers, exceeding their own expectations.
“Since May of last year, EL PAÍS readers can access up to 10 articles a month for free, but after that, they must subscribe for complete access to content (with the exception of essential information about Covid-19).”
Across all Nordic countries, up to 40 percent admit to sharing a password to a standalone SVOD service with someone outside the household, with the figure rising to up to 60 percent among the youngest.
“Last week, Netflix initiated a test to combat password sharing. Users reported seeing a screen saying, “If you don’t live with the owner of this account, you need your own account to keep watching”. In the trial, users had to verify the account by a specific code (sent to the subscriber via text or email).”
The Telegraph has denied that leaked proposals to pay journalists according to the number of subscribers they attract would lead to cash-for-clicks sensationalism, arguing the opposite would be the case.
“If you think about it, ‘working for clicks’ is exactly what you don’t do if you’re pursuing a subscription strategy such as ours. And the strategy is going well…”
The market for non-fungible tokens, or NFTs, digital assets that essentially serves as their own certificates of ownership and authenticity, has exploded recently. Now Quartz puts up what might be the first article for sale as an NFT.
“[...] We’re quite certain ours is the first piece of text journalism to be put up for sale in this manner.”
Facebook will introduce a new publishing platform in the coming months to “empower independent writers, helping them reach new audiences and grow their businesses.” Here’s what that means for publishers, according to What’s New in Publishing.
“This may make some publishers anxious about upcoming challenges in retaining their top journalistic talent if they have to compete with Facebook. But actually, it opens new opportunities for them as well.”
Traditional media groups face a challenge to justify value amid competition from rival sources for attention. There are lessons to be learned from Netflix transformations, writes the Financial Time's Alex Barker in an opinion article.
“News executives see subscriptions as a path to redemption after years of trauma over declining print and advertising revenue. But the high prices are also a reminder of the distance this industry still needs to travel in the search for a sustainable, and genuinely scalable, digital business model.”
